Bel Fuse (NASDAQ:BELFB) Reaches New 12-Month High – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFB) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $249.98 and last traded at $248.3150, with a volume of 8439 shares traded. The stock had previously closed at $236.04.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Needham & Company LLC upped their price target on shares of Bel Fuse from $212.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Zacks Research downgraded shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Northland Securities set a $266.00 target price on shares of Bel Fuse in a research report on Thursday, February 19th. Wall Street Zen downgraded shares of Bel Fuse from a “buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Weiss Ratings downgraded shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $216.50.

Bel Fuse Trading Up 3.7%

The company has a current ratio of 3.02, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.17 billion, a P/E ratio of 51.03, a PEG ratio of 2.40 and a beta of 1.56. The business has a 50 day moving average price of $218.35 and a 200 day moving average price of $184.98.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio is 5.70%.

Insider Transactions at Bel Fuse

In other news, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total value of $1,074,375.00. Following the completion of the sale, the director directly owned 15,047 shares of the company’s stock, valued at $3,592,471.25. This represents a 23.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The SEC filing for this sale provides additional information. Corporate insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

A number of large investors have recently bought and sold shares of BELFB. Farther Finance Advisors LLC increased its stake in Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Bel Fuse during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp increased its stake in Bel Fuse by 139.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 151 shares in the last quarter. Federated Hermes Inc. increased its stake in Bel Fuse by 52.5% during the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 115 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Bel Fuse during the 3rd quarter worth approximately $78,000. 58.39% of the stock is owned by institutional investors.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.